Kadant Inc. (NYSE:KAI) Director Sells $674,800.00 in Stock

Kadant Inc. (NYSE:KAI) Director Thomas C. Leonard sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the sale, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kadant Trading Down 1.5 %

Kadant stock opened at $326.59 on Thursday. The company has a 50 day moving average price of $319.81 and a 200 day moving average price of $303.87. Kadant Inc. has a 52 week low of $214.21 and a 52 week high of $363.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 34.02 and a beta of 1.21.

Kadant (NYSE:KAI) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. The firm had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. Research analysts forecast that Kadant Inc. will post 9.93 EPS for the current year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is currently 13.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on KAI shares. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Friday, September 20th. DA Davidson raised their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Kadant

A number of institutional investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Kadant by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,349,437 shares of the industrial products company’s stock valued at $396,438,000 after buying an additional 15,512 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kadant by 46.3% during the 1st quarter. Vanguard Group Inc. now owns 967,638 shares of the industrial products company’s stock valued at $317,482,000 after buying an additional 306,352 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Kadant by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 314,366 shares of the industrial products company’s stock valued at $92,355,000 after buying an additional 5,700 shares during the period. Capital World Investors acquired a new stake in shares of Kadant during the 1st quarter valued at $92,993,000. Finally, Raymond James & Associates boosted its stake in shares of Kadant by 6.5% during the 2nd quarter. Raymond James & Associates now owns 84,117 shares of the industrial products company’s stock valued at $24,712,000 after buying an additional 5,167 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.